https://www.taxtmi.com/circulars?id=52364 The Circular imposes a net-worth-based ceiling on overseas direct investment under the Automatic Route, restricting aggregate ODI by an Indian party in its JVs and WOSs abroad to an amount equal to the investor's net worth per the last audited balance sheet; excess ODI requires Reserve Bank approval under the Approval Route. The same ceiling applies to investments into overseas unincorporated entities in the energy and natural resources sectors. Existing exemptions continue for certain Navaratna PSUs and designated national oil companies for government-approved oil-sector investments; the changes apply prospectively to new proposals. en-us Wed, 14 Aug 2013 00:00:00 +0530 Wed, 14 Aug 2013 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52364 The Circular imposes a net-worth-based ceiling on overseas direct investment under the Automatic Route, restricting aggregate ODI by an Indian party in its JVs and WOSs abroad to an amount equal to the investor's net worth per the last audited balance sheet; excess ODI requires Reserve Bank approval under the Approval Route. The same ceiling applies to investments into overseas unincorporated entities in the energy and natural resources sectors. Existing exemptions continue for certain Navaratna PSUs and designated national oil companies for government-approved oil-sector investments; the changes apply prospectively to new proposals. Circulars FEMA Wed, 14 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52364